Country Economic Forecasts - China
Overall growth momentum held up in August, underpinned by somewhat stronger investment and consumption. But credit growth has yet to respond to the monetary policy easing started in Q2, underscoring the downward pressures in the rest of the year. Indeed, we still expect growth to be challenged in the coming months by the slow credit growth and the trade conflict with the US. That said, recent developments suggest that the slowdown is likely to be modest. We maintain our GDP growth forecasts of 6.5% in 2018 and 6.1% in 2019.